General Motors Co has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths. The preliminary settlement was filed on Friday night with the federal court in Manhattan and requires approval by U.S. District Judge Jesse Furman. It would resolve the last major piece of litigation stemming from ignition switches that could cause GM vehicles to stall and prevent airbags from deploying.

Plus the Lexus UX 250h, and a used car for riding out coronavirus

While the world's economy crumbled under the weight of the global financial crisis, it was still possible to go into just about any showroom and buy a fun car for under $25,000

Volkswagen may have to cut jobs if the coronavirus pandemic is not brought under control as the carmaker is still spending about 2 billion euros ($2.2 billion) a week, Chief Executive Herbert Diess told German TV channel ZDF. Diess told the Markus Lanz talkshow that the German company, which employs 671,000 people worldwide, was not making any sales outside China and was looking for ways to resume production elsewhere that wouldn't endanger its staff. Demand in China is picking up

The two largest U.S. automakers on Thursday announced measures to shore up their finances as the coronavirus pandemic takes a deep economic bite, with Ford Motor Co aiming to resume production next month of its most profitable vehicles while cutting costs further. General Motors Co , the No. 1 U.S. automaker, said it planned to keep its plants closed indefinitely and was reducing the pay of salaried employees and executives and suspending some future product programs to conserve cas

The Indianapolis 500 was postponed Thursday until August because of the coronavirus pandemic and won't run on Memorial Day weekend for the first time since 1946. “The month of May at the Indianapolis Motor Speedway is my favorite time of year, and like our fans, I am disappointed that we have had to reschedule the Indianapolis 500,” said motorsports giant Roger Penske, who finalized his purchase of IndyCar and Indianapolis Motor Speedway earlier this year. The Indianapolis 500 began in 1911 bu

Fiat Chrysler said on Thursday it has agreed a new credit facility with two banks, at a time when major carmakers are having to shut down plants, losing revenue as demand slumps in the wake of the coronavirus. Most of FCA's plants around the world are currently shut in response to the virus emergency. Italian investment firm Exor , which controls FCA, said on Wednesday that the temporary closures might continue and increase depending on how the coronavirus outbreak develops.